Economic zones may soon be set up within the prison reservations of the Bureau of Corrections (BuCor).
BuCor Director General Gregorio Pio P. Catapang Jr. and Philippine Economic Zone Authority (PEZA) Director General Tereso O. Penge will be signing at the PEZA office in Pasay City on Tuesday, Jan. 30, a memorandum of agreement (MOA) for the establishment of economic zones in select areas of the bureau's prison reservations.
“Considering that BuCor can be vital partner in attracting Foreign Direct Investments (FDI) and in creating economic opportunities within the PEZA legal framework, both agencies have agreed to work together by forging their alliance through MOA,” BuCor said in a statement issued on Monday, Jan. 29..
Bucor said that "both agencies will cooperate and identify portions of BuCor properties that can be developed as economic zones with special focus on Palawan as an agricultural and economic zone that can contribute to food security."
Catapang explained that he made the move since BuCor is allowed under Republic Act (RA) No. 10575, the BuCor Act of 2013, which provides for the modernization, professionalism and restructuring of the bureau.
He explained that under RA 10575, BuCor may opt to plan, develop, operate, and segregate portion of its land for the use of Special Economic Zones.
He pointed out that the law also states that BuCor’s lands shall be used for inmates’ security, reformation programs, and as a means to promote sustainability, both for income and non-income generating programs, with or without partnerships among non-government, civic organizations or other government entities.